Comcast Corporation (NASDAQ:CMCSA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,439,769 shares of the cable giant's stock after selling 691,690 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of Comcast worth $1,012,527,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors increased its stake in shares of Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after acquiring an additional 11,255,683 shares during the last quarter. Norges Bank bought a new stake in Comcast during the fourth quarter valued at about $3,835,226,000. Geode Capital Management LLC boosted its holdings in Comcast by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock valued at $3,212,244,000 after acquiring an additional 1,006,272 shares during the period. Dodge & Cox boosted its holdings in Comcast by 6.8% during the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after acquiring an additional 5,039,823 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Comcast by 12.0% during the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after buying an additional 5,402,377 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Up 0.3%

Shares of Comcast stock opened at $35.93 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. Comcast Corporation has a 1 year low of $31.44 and a 1 year high of $45.31. The firm's 50-day moving average is $34.81 and its two-hundred day moving average is $35.52. The stock has a market cap of $134.13 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 1.74 and a beta of 0.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The company's quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 earnings per share. As a group, research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is 32.43%.

Analyst Ratings Changes

Several research firms have recently weighed in on CMCSA. Bernstein Bank dropped their price objective on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Scotiabank reaffirmed a "sector perform" rating and set a $44.50 price objective (down previously from $45.00) on shares of Comcast in a report on Friday, April 25th. Morgan Stanley set a $37.00 price objective on shares of Comcast in a report on Friday, April 25th. Rothschild & Co Redburn dropped their price objective on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Finally, New Street Research dropped their price objective on shares of Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $40.96.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.

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